Lentil prices fall due to weak buying

11-Nov-2024 08:01 PM

Weekly Review of Lentils

 Lentil Prices Decline Due to Weak Demand and Increased Selling

Lentil prices experienced a decline last week, driven by weak demand and increased selling pressure. This weak lifting by importers and limited demand from millers contributed to the price drop.

Key Highlights:

Australian Exports:
According to the Australian Bureau of Statistics (ABS), Australia's lentil exports rose to 92,000 tons in September, up from 65,000 tons in August. India received 32,282 tons of lentils from Australia during this period.

Price Movement:
Prices across key markets showed a decline of ₹50 per quintal:

• Mundra: ₹5900–5950
• Hazira: ₹5950–6000
• Container Canada: ₹6150–6200
• Australia: ₹6200–6250
• Kolkata: Vessel – ₹6375, Container – ₹6400–6425
• Delhi: Prices dropped by ₹50–75 per quintal across different types of lentils (e.g., small Kota ₹6550, Bundi ₹6975, Uttar Pradesh ₹7025).
• Madhya Pradesh: Prices declined by ₹50 per quintal, with Ashoknagar at ₹5800–5900, Sagar ₹5600–6000, and Katni ₹6650–6675.
• Uttar Pradesh: Prices fell ₹50–100 per quintal, with Bareilly Chhoti at ₹7100, Moti ₹6700–6725, and Kanpur ₹6550.

Other Regions:

• Bihar and Raipur: Prices remained stable due to sluggish demand, with prices unchanged at ₹6800 per quintal in Barh, Khusrupur, and Mokama, and ₹6200 in Raipur.

Masoor Dal:
The price of Masoor Dal remained stable, unaffected by the drop in lentil prices. Prices were consistent across key markets:

• Jalgaon: ₹7500
• Indore: ₹7550
• Barh: ₹7700–8000
• Khusrupur: ₹7700–8000

Conclusion:

The lentil market saw a decline in prices due to weaker demand, especially from millers, and increased selling pressure. Despite the drop, prices remained stable in certain regions, particularly in Bihar and Raipur, where there was no significant movement. The increase in Australian exports to India is noteworthy, but overall, the market sentiment remains cautious.